Rs 700 crore to top up Mangalore and Padur caverns: Rs 80 crore for O&M

Feb 02:
The government has budgeted for a spending of Rs 700 crore in filling up its strategic reserves of crude in underground caverns in 2017-18.8The money will be spent on filling of crude oil in Mangalore and Padur caverns.8This outlay however is lower than Rs 1141 crore to be spent this year and Rs 2579 crore that was spent in 2016-17.8Overall, the government will have spent a total of Rs 6528 crore between 2016-19 to fill up it's crude oil caverns8O&M expenses on the crude oil storage facilities are pegged at Rs 80 crore in 2018-19.8No budgetary funds are allocated for building more storage facility.Click on Reports for more